Total capitalization of the crypto market has remained virtually unchanged in the last 24 hours, with Bitcoin setting a support of $ 95,761, which can lead to a period of consolidation.

However, many altcoins are standing out, with Sonic, previously known as Fantom, leading gains after a 16% increase on the last day.

In today’s news (18):

• Elon Musk’s Doge is investigating SEC for alleged cases of “waste, fraud and abuse”, which may have unexpected consequences for the crypto industry. Commissioner Hester Peirce highlighted the need for qualified professionals to elaborate pro-criminal policies, while Coinbase’s legal director proposed strict punitive measures against the commission.
• Unconfirmed reports suggest that the Libra team was in negotiations with Nigerian authorities to launch another controversial Memecoin, without any evidence connecting President Bola Tinubu. Libra Market Maker CEO Hayden Davis said she had received a flood of proposals to facilitate new rock pulls.

The crypto market is stable

The total capitalization of the crypto market is currently at US $ 3.13 trillion, maintaining above the support of US $ 3.09 trillion. To ensure higher stability, the market needs to consolidate $ 3.16 trillion as a solid support. A successful breach of this level would indicate potential for additional growth.

In the last 24 hours, market volatility has decreased, ending the high and low sudden movements that had been marking the recent price action. This stabilization is beneficial to the market as a whole, allowing total capitalization to begin its recovery and build higher supports.

However, the total capitalization of the crypto market can still be affected by low macroeconomic signs. If you lose the support of US $ 3.09 trillion, the market can retreat to $ 3.00 trillion, making investors’ feeling worse and prolonging the current phase of low.

Bitcoin maintains key support

The price of Bitcoin has shown little variation in the last 24 hours, currently being negotiated at US $ 96,205. Cryptocurrency has been able to establish a support of $ 95,761, which has helped stabilize its price. However, Bitcoin still faces difficulties to break higher resistance.

Despite avoiding a drop for critical support of $ 93,625, Bitcoin can remain consolidated between $ 95,761 and $ 98,212. This side movement reflects a lack of clear direction in the market, with the price facing difficulties to break the next resistance, but managing to maintain its support.

The optimistic-neutral perspective can be invalidated if Bitcoin loses the $ 95,761 support. A drop below this level would probably test $ 93,625 as a next support, expanding losses and increasing the risk of a wider low trend.

Sonic dispara

Sonic’s price (previously Fantom) has risen 16% in the last 24 hours, being currently negotiated at US $ 0.61. This recent increase has helped Altcoin overcome the $ 0.60 key resistance, signaling potential for continuous growth. However, your ability to keep the momentum up depends on the next standard level.

Sonic’s main goal is now to break $ 0.68 and turn it into solid support. If successful, this movement would allow Altcoin to continue its recovery and eventually target $ 0.70. Sustained disruption above this resistance can pave the way for a stronger tall impulse.

If Sonic cannot consolidate $ 0.60 as a support, its price can retreat to $ 0.51, invalidating the optimistic perspective. This drop would indicate a weakening of the high momentum and could lead to Altcoin to even lower values, with $ 0.43 as a possible target if the sales pressure continues.